KUTh Energy update in quarterly report

Alexander Richter 8 Ağu 2009

In its recent quartlerly report, Australian KUTh Energy provides an overview on its activities in the recent quarter.

The company completed  its Tasmanian surface heat flow estimation program, as reported on in July. The result of this work are an inferred geothermal resource of 260,000 PetaJoules, the first to be identified in Tasmania.

KUTh will apply for a grant in round two of the Australian government’s Geothermal Drilling Program.

In Australia, the company also continues its work on its two tenements in North Queensland.

The company alco continues to explore opportunities in the Pacific region, mainly based on diesel generation replacement opportunities, geothermal resources and possibly faster development options than in the EGS projects of the company.

The companies explored by the company are Vanuatu, where the company has been granted licenses for its 100% subsidiary KUTh Energy Vanuatu Limited, on Fiji the company has three tenement applications pending approval via its 100% subsidiary KUTh Exploration Fiji Limited, as well as three tenements applications on Papua New Guinea via 100% owned KUTh Energy (PNG) Limited.

Primary efforts of the company seem to go to Vanuatu, where the company has contracted Dr. Graeme Wheller of Hot Dry Rocks Pty to do a scoping study on the Pacific Region.

Source: Company release (pdf)